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    300 Cummings Ln Washington, IL 61571

    • Flex space
    • 50,840 SF
    • 9.67 lot acres
    For Sale
    View listing
    $1,000,000
    Value Estimation
    Last Sale
    Feb 10, 2023
    $3,400,000
    Location Intelligence
    Property ID
    US28-2176038
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Flex space

    Property Details for 300 Cummings Ln

    Year built
    1996
    Lot size
    9.67 lot acres
    Property size
    50,840 SF
    Property type
    Flex space
    APN
    02-02-16-400-024
    APU
    20216400024

    Description

    This exceptional 9.67-acre vacant parcel presents a unique investment opportunity in Washington, Illinois. Boasting highly desirable I-1 industrial zoning, this flat, buildable land is ideally situated for immediate development. Its prime location at the planned intersection of the Freedom Parkway extension (currently ending near Walmart and Menards, with future extension to Cummings Lane) offers unparalleled access and visibility. The property is surrounded by a thriving mix of industrial businesses, retail establishments, medical facilities, and hotels, ensuring a strong and diverse surrounding community. This presents a rare chance to capitalize on the growth potential of this strategically located site. The property's flat terrain simplifies construction, minimizing site preparation costs and accelerating project timelines. The existing infrastructure and proximity to established businesses make this an attractive proposition for a wide range of commercial and industrial ventures. This is a truly exceptional opportunity to acquire a significant land holding in a rapidly developing area. The I-1 zoning allows for a variety of uses, providing flexibility for future development plans. Don't miss this chance to secure a prime piece of real estate in a high-growth sector of Washington, IL. The asking price is $1,000,000.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $2,455,000

    • CAP approach

      CAP return
      Estimation
      6%
      $3,255,000
      6.5%
      $3,315,000
      7%
      $3,390,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $3,320,000
      Geo Method
      $3,575,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $3,240,000
      Retail
      $2,930,000
      Mixed-Use
      $2,755,000
      Hospitality
      $2,730,000
      Educational
      $3,300,000
      Residential Income
      $3,510,000
      Energy
      $2,760,000
      Income-Based Land
      $3,215,000
      Food Service
      $3,005,000

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.448
    Latitude
    40.708
    CBSA code
    37900
    CBSA name
    PEORIA, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $40,914
    $153,060
    $456,790
    $609,850
    -
    $459,180
    $1,370,370
    $1,829,550

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      View Details
    • Value Estimation by Request
      4,800 SF

      305 Muller Rd

      MINI-WAREHOUSE, STORAGE • 4,800 SF
      305 Muller Rd, Washington, IL 61571-2346
      View Details

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    300 Cummings Ln
    Washington, IL 61571
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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